Clause 8.—(OTHER AMENDMENTS OF PRINCIPAL ACT.)

I beg to move, Amendment No. 13, in page 8, line 20, at the end to insert:
(2) In section 23(6) of the principal Act (each of the Corporations to provide the Minister with information relating to the undertaking of the Corporation and of any associate of the Corporation) for the words from "undertaking of the corporation" to "or any such associate)" there shall be substituted the words "property, financial position, activities or proposed activities of the corporation or of any subsidiary of the corporation".

The object of these Amendments is to facilitate the consolidation of the Air Corporations Act which, we hope, will soon follow the passage of the Bill and it is to remove the word "associate" from the text of the Bill, a word which is now obsolete. The secondary purpose of the Amendment to Section 23(6) is to clarify what is required from the corporations.

7.30 p.m.

In its present form the Section was intended to provide for the situation when the corporations were supported by subsidies in the form of Exchequer grants. Before making these grants the Minister got considerable information about the undertakings of the corporation and the undertakings of any associate. Nowadays as the powers have lapsed the information required from the corporations is mainly of financial forecasts for the purpose, for example, of negotiating financial targets and capital investment plans.